Star Social Media | Foursquare Looks to Monetize the Platform with GEO- Targeted Ads


Posted by Jeff in Marketing

Foursquare Looks to Monetize the Platform with GEO- Targeted Ads

by Jeff Newton

Mashable is confirming that location based social networking company Foursquare is currently testing a new advertising platform aimed at small business, by letting large advertisers like Burger King, Gap and Starwood Hotels to test promote themselves with the platform. These listings show up in Foursquare when a customer gets close to a business’ physical location. Small businesses already had the capability to offer discounts when a user checked in to a location. Now Foursquare is providing them with a way to attract geographically close customers by showing an image ad and/or review by a previous Foursquare user.

Responsive Web Design Is the Future of Your Website

In the changing world of technology if a company is not keeping up with the changing trends you’re falling behind. There was a time where just having a website was enough. However, in the modern market clinging to antiquated methods may do severe damage to a company’s profile. The current trend in web design is responsive websites. This design type framework is the future of web design. The information that follows will illustrate what a responsive website is and why it is needed.

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In the most basic sense this means you have...

What’s in it for Foursquare?

Foursquare is a location-based social networking site for mobile devices, such as smartphones. Typically its users “check in” at various venues using a mobile website, text messaging or a device-specific app. Their specific location is found through the GPS in their mobile device. Foursquare has until now been a means for consumers to promote their favourite bars, hangouts and restaurants. Now, those places will have a way to promote themselves directly to consumers. While Foursquare has gathered some 25 million registered users, they earned just $2 million dollars last year, according to The Wall Street Journal. they're clearly searching for ways to pump up the revenue.

Is a Tablet a True Mobile Device?

There have been countless efforts to conclude what a mobile device actually is so let's start by understanding the definitions of the terms "mobile" and "device".


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How the ads work

The way this works is the ad platform targets Foursquare users based on their locations and check-in histories. Merchants will and do have the capability to target nearby consumers with particular tastes – a predilection for fine dining. Example. Customers who'd previously checked-in to their store. Merchants in this program are able to turn on and off their Foursquare promotions any time they want. Are charged similar to a pay per click model, that's, they're going to be charged only on a “per action” basis (when a user actually taps on a promoted listing as opposed to merely viewing it). So far, Foursquare is charging $0.50 to $3 per action. That’s likely to change when it's rolled out to the masses. Foursquare CRO Steven Rosenblatt said, “Small businesses are willing to pay for local advertising if it makes sense.”

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